Institute for Economics and Peace (IEP) reveals the most peaceful countries in the world. Despite living in the most peaceful century in human history, the world has become less peaceful over the last decade.

FX Scandal Drives New Trading Methods

Advertisement

Following the FX benchmark rate-fixing scandal, which saw six banks fined almost $6 billion, currency traders at corporate and financial institutions worldwide are revising how they execute transactions.

Beginning in July, the European Central Bank changed the release time of its FX reference rates to 4PM from 2:15PM Central European Time (CET). The ECB strongly discourages using its reference rates for transaction purposes.

Meanwhile, Thomson Reuters introduced the WM/Reuters 2PM CET benchmark, a free service for corporations looking to value, hedge and settle cross-border transactions. The benchmark is calculated based on available primary market data sourced from global trading platforms.